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November 16, 2009
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NJ SNIFFLES
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Want an excuse to come to DC? Join us for our Dec 7 conference "2010" headlined by Carlyle Group founder David Rubenstein.
More info. |
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| Beware the vaccine shortage: Manhattan has sneezed, and Jersey's riverfront cities are sniffling. During boom times, Jersey City was a constant recipient of Manhattan's overflow, which has turned into a trickle, says FirstService Williams' Michael Cohen. |
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But there have been anomalies. Michael, colleague Colton Brown, and Oxford & Simpson’s David Pennetta recently repped the tenant of one of 09’s largest Tri-State office transactions— Broadridge Financial Solutions’ seven-year, 320k-SF renewal at 2 Journal Square. The deal would have been commonplace a few years ago, but now it seems supersized, he notes.
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Despite its unusualness, it's actually archetypical. Tenant and landlord creating a win-win (certainty in uncertain times) is a minuet that will unfold again over the next few years, he adds. Another shot in the arm: NJ is still luring companies out of New York with lucrative municipal incentives, and Michael doesn’t see that changing with the election of Chris Christie.
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| Ono! |
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Art, architectural, science, and academic communities recently gathered for The Cooper Union’s seventh annual Urban Visionaries Award Dinner at 7 World Trade Center. Among those honored for outstanding contributions to city life was Yoko Ono, here with Cohen Brothers Realty Corp.’s Charles Cohen and his wife Clo, who were co-chairs. (Charles is also a trustee.) Other honorees: architects Cesar Pelli and Thom Mayne, and Macy’s CEO Terry Lundgren. The night also recognized the college’s 150th anniversary; uptown, the Empire State Building joined in the celebration with special lighting.
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DISTRESSED SPACE CASE
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Real estate students from NYU joined fellow Cornell, Indiana, American, Penn State, UCONN, and UT-Austin undergrads Thursday at TIAA-CREF’s Third Ave HQ for the first annual Cornell Undergraduate Case Competition, where they were given 20 minutes to present and another 20 to answer questions on the best investment strategy for a fund. We snapped Jeremy Salzberg, Diana Berger, Bretton Taylor, Daniel Pessar, Jameel Merali, and Ardon Wiener.
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The esteemed judges: Archon Hospitality prez Todd Giannoble, Cornell professor Daniel Quan, Praedium Group director Jeffrey Hertz, DRA Advisors prez Francis Tansey, Prudential Real Estate Investors managing director Cathy Marcus, and TIAA-CREF managing director Martha Peyton. The overall winner, Cornell, was chosen for its best strategy on how to handle three distressed properties: an empty lot at E. 40th St and offices in NoMa (DC) and King of Prussia (PA); and whether the fund should purchase a fractured condo in Orlando and convert it. Sponsors were Archon, AREA Property Partners, BlackRock, ING Clarion, National Realty & Development Corp., Prudential, and TIAA-CREF.
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| A Win for Kopel |
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Christina Daly
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| Barring news that Larry Silverstein was president of his 6th grade class, this might be the biggest political win for a real estate man. Congrats Sutton Alliance CEO Howard Kopel, who beat five-term Democratic incumbent Jeffrey Toback for the seventh district of the Nassau County Legislature. Howard, here with Town of Hempstead councilman Anthony Santino, is responsible for corporate policy and strategic planning for Sutton Alliance and member companies Sutton Land Title Agency, Progressive Closing & Escrow, and Sutton 1031 Exchange Services, based out of Valley Stream. The attorney is also a member of the NYS Bar and a trustee of the Valley Stream Chamber of Commerce. |
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| UPCOMING EVENTS |
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November 17 - ICSC - Retail runway featuring expanding food operators including Bruegger's Bagels, Goodburger, Hill Country, Muscle Maker Grill, and LDV Hospitality. Karaoke with a live band to follow. Hill Country on 26th St. 5:30-8:30pm. Info
November 17 - NRC - Real Estate and the Media - How the real estate business is viewed in the press; what you can to raise your media profile. Info
November 17 - REBNY - Members Luncheon - Real Estate, The Economy and Washington D.C.: What Does It all Mean For NYC 11:45 A.M. – 2:00 P.M. New York Hilton Hotel Grand Ballroom. Registration required. djones@rebny.com
November 18 - Uniting Against Lung Cancer, "Strolling Supper with Blues & News." Performance by Grammy-Award winning blues artist Delbert McClinton. Tix start at $300. Call 212-627-5500 or click here. 6:30-9:30pm - Manhattan's Gotham Hall, 1356 Broadway.
November 19 - REBNY - Inside Secrets of Top Brokers - Residential - 5:30-7pm - Registration Required. Members Only. Location: Mendik Education Center, 570 Lexington Avenue.
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This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. © 2009, Bisnow on Business, Inc., 1323 Connecticut Avenue, NW Washington, DC 20036. All rights reserved.
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